I'm finally done with the School! :)))

Congratulations @ria_rose! :thumbsup:

Iā€™m done with the School too but I keep coming back on some of the lessons. :smiley:

Good luck!!!

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Next step is practicing on demo account and donā€™t rush to go on live its fraught with big mistakes and frustration

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Thank you so much!

Yeah! :slight_smile: Me too. Iā€™ve even bookmarked a few lessons just so that I could have an easy reference.

Happy trading and good luck to you too! :smiley:

Yes! :slight_smile: I will stay on my demo account for about 6 months to a year (depending really on how confident I am with my trading skills). :slight_smile:

How long did you stay on demo before you went live?

this is a tradition from the 80ā€™s

THIS IS DEDICATED TO YOU

SCHOOLS OUT FORā€¦ EVER

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HAHAHAHA! :smiley: Thanks @anon81929759! Feel like dancing.

Well done! By the way, in your free time try to revise the school lessons regularly! Because, I am sure, there have so many lessons that your brain didnā€™t synthesize properly; it takes time! Thank you.

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hehe
Alice Cooper is Legendary
\m/ \m/

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If you demo trade and read what babypips education advises, you could learn exponentially faster.

While I was demo trading, I read babypips education to give me ideas on how to approach how to trade, It helped me a lot.

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Youā€™re right! :slight_smile: There are really some concepts I donā€™t fully understand yet. :sweat: But I will definitely keep coming back to them!

Thank you. :slight_smile:

BabyPips has really been super duper helpful! :smiley: I wanted to finish the whole school before I really start demo trading and now that Iā€™m done, I could proceed to putting what Iā€™ve learned to practice (on my demo ofc) Haha. :slight_smile:

Thank you so much for this! :slight_smile:

You are always welcome! Just keep it up! Happy learning.

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Congratulation @ria_rose1d
I think you have good step as early preparation before start trading on real account, keep practice in demo account until you felt confident with your skill, donā€™t be rush to start using real account, keep positive mindset if you can success through forex

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Thank you so much @bearish! :slight_smile: Really appreaciate it.

Yeah. Iā€™d like to think Iā€™m patient enough to really take the ā€œslowly but surelyā€ road to forex trading. Haha. I hope you keep a positive mindset as well! :smiley:

@ria_rose
Since you are a beginner. let me show you something (if you have not already seen it)
this is just a very convenient example of HOW YOUR ACCOUNT CAN GET BLOWN OUT as a beginner

and how the market doesnā€™t care about your positive thinking.

Everything in forex is fine for the most part, UNTIL SOMETHING LIKE THIS HAPPENS

this is the EUR USD H4 (4 Hour Chart)

ignore the dotted lines

the RED LINE is at 1.2318
the YELLOW LINE is the current priceā€¦ IT DOESNā€™T MATTER in this example
the GREEN LINE is at 1.2034
the BLUE LINE is at 1.1928

NOW HERE IS YOUR SCENARIOā€¦

YOU ARE AT THE FIRST RED ā€œVā€
Youā€™ve done your analysis and you figured
Price has risen up, itā€™s not stopped
you are getting lower lows and lower highs after a range period
it then pops up again a little then ranges and down again

so. YOU THINKā€¦ SELL

well CONSIDER THIS
from the BLUE LINE to the RED LINE THERE ARE ā€¦390 PIPS
Nowā€¦ if you got in at THE GREEN LINE at THE SECOND RED ā€œVā€
and you were selling

Youā€™d now be broke or saying the F word as loud as you can many many times over hehe

THIS IS THE SCENARIO YOU NEED TO PREPARE FORā€¦ ok
you should always assume that THIS COULD HAPPEN ANYTIME

And if you do this, you will never get caught off guard

do some research on EUR USD youā€™ll see things like
ā€œMany people got caught off guard this week with the EUR USDā€ etc etc

nowā€¦ i wonder why that isā€¦ huh

this is clearly and oversimplified example
but THE POINT WASā€¦ Understand this can happen anytime (this is proof)

and PREPARE FOR IT

soā€¦ HOMEWORK
go away and work out howā€¦ if you were SELLING at the green line at the red V
HOW WOULD YOU MANAGE YOUR RISK ON THIS TRADE ?
or how would you have managed it

remember, AS ITS HAPPENING,ā€¦ YOU DO NOT KNOW HOW FAR IT WILL GO UP
keep that in mind

Congratulations! How many weeks it took to complete?

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Yeah of course, positive mindset is required on every business, included on forex business, if we believe hence will we get, keep forward to continue learning with practicing, forex business still become my way to making money online till now

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Okay. Wow. Iā€™m being put to the test right away. :sweat: Iā€™m still trying to get this so please bear with me. :sweat:

First of all, if I were to see this chart, I would immediately notice the Double Top so Iā€™d expect a trend reversal there-- putting my entry right below the neckline and my stop just just above it (in case my eyes deceive me and itā€™s not really a double top). My target profit would be about the same height as the formation so I think Iā€™d win some pips there. Iā€™d close the position.

Then, I might open another position and SELL at 1.2304 because of the big bearish candle. But, Iā€™d put my stop 50 pips away from my position because I donā€™t think I could afford to lose more than that lol. If thereā€™s anything BabyPips has told me, itā€™s to make sure that I decide where to place my stops even before I calculate my position size.

Again, if Iā€™m wrong and if Iā€™d drown in debt after my decisions for this theoretical trade (Iā€™m hoping I wonā€™t lol), then, Iā€™d just be more determined to learn more about what I should have done. :smiley: :smiley:

Thank you so much, @Peter_Siddle! :smiley:
I think it took me about 4 weeks to finish everything. But thatā€™s also because I love rereading parts over and over again.

How about you? :smiley: How long did it take you to finish the school?

@bearish, thank you so much for the inspiring words! :smiley: I really hope youā€™re right. I hope I get to the point where I actually make money from forex. Huhu.

Thank you very much for your replay! For me, I was around 2 months!